Genzyme Misses Q3 Estimates, Lowers Guidance (GENZ)

Wed. October 21, 2009; Posted: 10:09 AM

Oct 21, 2009 (SmarTrend(R) News Watch via COMTEX) -- GENZ | Quote | Chart | News | PowerRating -- 10/21/2009 - Genzyme Corp (NASDAQ:GENZ) reported Q3 EPS of $0.31, ex-items, missing consensus analyst estimates of $0.44. Revenue for the quarter fell 8.6% year-over-year to $1.06 billion, falling short of consensus estimates of $1.11 billion. The company lowered its expectations for 2009, expecting non-GAAP EPS around $2.26, down from its previous guidance of $2.35 aEUR" $2.90. Chairman and CEO Henri Termeer said, aEURoeDuring the next 12 months, we will invest in our existing business and pipeline, while making changes to become stronger and build for our future . . . In particular, we will concentrate on recapturing momentum in our genetic disease business, where we will commit the resources to provide the highest level of service and support to patients and physicians.aEUR Shares of Genzyme fell 0.91% in early Wednesday trading.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Genzyme Corporation (GENZ) click here. Genzyme Corporation (GENZ) has Short Term PowerRatings of 4. Details on Genzyme Corporation (GENZ) Short Term PowerRatings is available at This Link.

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